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LON100:SVT, Aug 23, 08:32 UTC

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Tuesday, May 21


News

Severn Trent issues warning on impact of Labour nationalisation plans

SVT

Utility giant Severn Trent has warned that Labour policies for nationalisation of the industry would impact its ability to fulfil its strategic goals. The opposition party led by Jeremy Corbyn laid out plans earlier this month under which it would offer shareholders in water utilities around half the current market value under a nationalisation programme, were it to win the next general election. The firm said such policies “may fundamentally impact our ability to deliver the group’s strategic objectives, impacting shareholder value”. Chief executive Liv Garfield said: “This has been a year where our teams have really stepped up, whether in response to customer needs in the face of one of the hottest and driest summers we’ve seen or by being named by Ofwat as one of the top companies in the sector when we received fast-track status for our future plans.

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News

Severn Trent warns on impact of re-nationalisation

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(Reuters) - British water utility Severn Trent reiterated warnings on Tuesday about the impact of any future nationalisation of the industry on strategic goals the company has set for itself under its officially-regulated business plans. The opposition Labour party laid out plans earlier this month under which it would offer shareholders in water utilities around half their current market value under a nationalisation programme should it win the next general election. The company made the comments as it posted a 6.8% rise in profit for the year after scoring a number of performance-related incentives from regulator Ofwat, offsetting a rise in costs linked to last summer's supply shortages.

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News

Severn Trent says re-nationalisation could raise water bills

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(Reuters) - A re-nationalisation of the UK water industry could raise customer bills and lower investment, Severn Trent said on Tuesday, as utility companies laid the ground for a potential fight with a future Labour government. Although a UK election is not due until 2022, and opinion polls show the main opposition party falling far short of a majority, Labour laid out plans this month to offer shareholders around half the current market value of the country's utilities under a future re-nationalisation. The head of Britain's National Grid has already criticised Labour's plans to renationalise energy networks, warning of high costs to taxpayers and a slower transition to green energy. Severn Trent's Chief Executive Officer Liv Garfield pointed to a study from Britain's water regulator Ofwat which said customers would be paying around 120 pounds more a year if the water industry had not been privatised. Labour says that water bills have risen 40% in real terms since privatisation in 1989, while water companies receive more in tax credits than they pay in tax while paying out large dividends to shareholders.

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Tuesday, May 07


News

Severn Trent Chairman Andrew Duff to step down

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(Reuters) - Water utility Severn Trent said on Tuesday Chairman Andrew Duff would step down after nine years in the role. The departure comes at a time when the company is preparing to implement its new business plan after being awarded Fast Track status by Britain's water industry regulator Ofwat. The departure falls in line with the Financial Reporting Council's (FRC) revised corporate code that came into effect in January, requiring public companies to explain if a board chair has remained unchanged for more than nine years. Severn Trent, which supplies water across the Midlands region, said it had started to look for Duff's successor and that he intended to remain in the role until the induction of a new chairman.

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Friday, April 12


Social Chatter

Severn Trent PLC (LON100:SVT) social chatter is higher than usual

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Water supply in south east Birmingham is changing this week - all the details from @stwater here https://t.co/I8grfEcAZ1

Wednesday, March 27


News

Severn Trent Plc (SVT) Given Consensus Recommendation of “Hold” by Brokerages

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Shares of Severn Trent Plc (LON:SVT) have received an average recommendation of “Hold” from the nine ratings firms that are covering the stock, Marketbeat.com reports. One research analyst has rated the stock with a sell recommendation, six have issued a hold recommendation and two have issued a buy recommendation on the company. The average 1 year price target among brokerages that have issued a report on the stock in the last year is GBX 2,118.67 ($27.68). Royal Bank of Canada cut shares of Severn Trent to an “outperform” rating and cut their price target for the stock from GBX 2,650 ($34.63) to GBX 2,250 ($29.40) in a research note on Monday, November 26th.

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Monday, March 11


News

Severn Trent used taxi drivers to look at water leaks

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Severn Trent said it had deployed the drivers on about 50 small leaks "as a cheaper way to get live video footage" than using technicians. The water company's programme had "huge safety implications for customers, drivers, and the public at large", the GMB union said. GMB national officer Stuart Fegan said: "When I found out Severn Trent are using taxi drivers to investigate leaks, I thought it must be a joke. He added: "I doubt most taxi drivers can. "And how is someone going to feel after they report a leak, expecting a Severn Trent worker to attend with a uniform and the necessary training and a taxi driver turns up. They'd think it was a hoax call."

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Monday, February 11


News

Severn Trent (SVT) Price Target Lowered to GBX 2,000 at HSBC – PressOracle

SVT HSBC +2 more SVT HSBC 0005 HSBA

Royal Bank of Canada cut Severn Trent to an “outperform” rating and lowered their price target for the stock from GBX 2,650 ($34.63) to GBX 2,250 ($29.40) in a report on Monday, November 26th. Finally, Morgan Stanley restated an “equal weight” rating on shares of Severn Trent in a report on Thursday, December 13th. The company has an average rating of “Hold” and a consensus price target of GBX 2,111.38 ($27.59). Severn Trent has a twelve month low of GBX 1,664 ($21.74) and a twelve month high of GBX 2,575 ($33.65).

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Monday, February 04


News

Mario Gabelli Comments on Severn Trent PLC

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- By Holly LaFonSevern Trent plc (SVT) (0.6%) (SVT - $23.14/?18.16 - London Stock Exchange) is an international provider of water and wastewater services. Severn Trent Water, the U.K.-based utility, provides water to eight million people and wastewater services to nine million people in the Midlands and Mid-Wales. Severn Trent operates under a 2015-2020 five year rate plan that provides inflation adjusted annual rates increases approved by OFWAT, the U.K. water regulator. The utility has filed its plan for the 2020-2025 period and expected a final decision in late 2019. As one of the U.K.'s premier water and wastewater providers, Severn Trent is well positioned to provide expertise and infrastructure investment opportunities in less developed regions of the world.

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Thursday, January 31


News

Ofwat Backs Severn Trent, United Utilities, Pennon...

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Ofwat Backs Severn Trent, United Utilities, Pennon Unit Business Plans. LONDON (Alliance News) - The UK Water Services Regulation Authority on Thursday said it has given ... LONDON (Alliance News) - The UK Water Services Regulation Authority on Thursday said it has given the green light to the business plans of Severn Trent PLC, South West Water and United Utilities Group PLC for 2020 to 2025. The plans presented by those three companies set out how they intend to cut bills by up to GBP70 in real terms, Ofwat said, and deliver real change in the areas that matter most to customers, such as cutting leakage. Blue-chip peer Severn Trent also welcomed the news from UK regulator and said its business plan includes additional spend of GBP160 million to address supply, environmental and water trading opportunities.

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